Prior to moving to the US, we had to liquidate our assets, and formally cut our financial ties to Canada - to avoid being taxed in both countries. After living in the US for 10+ years, and becoming US citizens, we have an opportunity to move back to Canada for a 4-6 year position. We would like to move back to the US after the term. So, financially how would this affect us? We would file tax returns in each country - but would we have to report to the Canadian government our financial earnings from investments in the US?
Dual US/CDN - what to do with US investments if we move back to CDN?
- Thread starter easybay
- Start date
Triple Citizen
Registered Users (C)
When you move back to Canada, you can bring in whatever money you want to tax free. However once you setup residency in Canada and continue to earn money from US investments, that will be considered part of your global income and will need to be declared on Canadian tax filings.